Leonardo to buy Kopter for $185M
Thread Starter
Leonardo to buy Kopter for $185M
Leonardo has signed a contract with Lynwood (Schweiz) AG to acquire 100% of Kopter Group AG (Kopter). This move allows Leonardo to further strengthen its worldwide leadership and position in the rotorcraft sector; leveraging innovation, new capabilities and engineering skills which have been developed by the young, agile Swiss Company. Kopter’s SH09, a new single engine helicopter, is a perfect fit for Leonardo’s state of the art product range offering opportunities for future technological developments. The Swiss company’s competencies will boost future developments towards more disruptive technologies, mission capabilities and performances, including innovative hybrid/electrical propulsion solutions. This acquisition will replace the planned investment aimed at the development of a new single engine helicopter. Within the Helicopter Division of Leonardo, Kopter will act as an autonomous legal entity and competence centre working in coordination with us.
The purchase price, on a cash and debt free basis, consists of a $185 million fixed component plus an earn-out mechanism linked to certain milestones over the life of the programme, starting from 2022. The closing of the transaction is subject to certain conditions and is expected to take place during the first quarter of 2020.
Alessandro Profumo, Leonardo CEO, said: “By this deal we confirm our commitment to strengthening Leonardo’s core business and sustaining our leadership in key areas. With this acquisition we will bring on board innovative skills and technologies that will complement our own and will also contribute to keeping us at the forefront of innovation and competitiveness whilst maintaining our financial solidity.”
Gian Piero Cutillo, Managing Director Leonardo Helicopters, said: “We are proud to welcome this innovative company as an integral part of our world-leading helicopter business. It complements perfectly our existing product portfolio adding a promising rotorcraft that will greatly benefit from our industrial know-how, service and training experience and commercial network.”
Marina Groenberg, CEO of Lynwood, stated: “Lynwood is very proud to have strongly supported the development of Kopter and its SH09 programme over the past 10 years. It is now the right time for Leonardo to take over as they are a perfect match for Kopter at this stage of development.”
Kopter’s CEO Andreas Loewenstein declared: “Kopter is very excited to have won with Leonardo a solid industrial investor. Within Leonardo, we get the support to finalize our development on various fronts while keeping the ability to remain the agile single-engine pioneer that we are.”
For the transaction, Leonardo was assisted by EY and Gatti Pavesi Bianchi. Lynwood was assisted by HoganLovells.
About Kopter
Primarily based in Switzerland, Kopter has been operating since 2009, originally designated Marenco SwissHelicopter and later rebranded as Kopter Group AG in 2018. The brand-new SH09 single engine helicopter programme has been launched to bring new capabilities and modern design to the civil market with a most cost/effective and versatile platform. The SH09 combines the latest available technologies and safety features, providing excellent performance at affordable cost for a variety of applications.
Combined with excellent engineering skills and agility and an modular architecture suitable for future developments towards more disruptive technologies, mission capabilities and performance including hybrid/electric options, the acquisition of Kopter will allow Leonardo to take further important steps towards an even greater range of offer and market footprint.
The purchase price, on a cash and debt free basis, consists of a $185 million fixed component plus an earn-out mechanism linked to certain milestones over the life of the programme, starting from 2022. The closing of the transaction is subject to certain conditions and is expected to take place during the first quarter of 2020.
Alessandro Profumo, Leonardo CEO, said: “By this deal we confirm our commitment to strengthening Leonardo’s core business and sustaining our leadership in key areas. With this acquisition we will bring on board innovative skills and technologies that will complement our own and will also contribute to keeping us at the forefront of innovation and competitiveness whilst maintaining our financial solidity.”
Gian Piero Cutillo, Managing Director Leonardo Helicopters, said: “We are proud to welcome this innovative company as an integral part of our world-leading helicopter business. It complements perfectly our existing product portfolio adding a promising rotorcraft that will greatly benefit from our industrial know-how, service and training experience and commercial network.”
Marina Groenberg, CEO of Lynwood, stated: “Lynwood is very proud to have strongly supported the development of Kopter and its SH09 programme over the past 10 years. It is now the right time for Leonardo to take over as they are a perfect match for Kopter at this stage of development.”
Kopter’s CEO Andreas Loewenstein declared: “Kopter is very excited to have won with Leonardo a solid industrial investor. Within Leonardo, we get the support to finalize our development on various fronts while keeping the ability to remain the agile single-engine pioneer that we are.”
For the transaction, Leonardo was assisted by EY and Gatti Pavesi Bianchi. Lynwood was assisted by HoganLovells.
About Kopter
Primarily based in Switzerland, Kopter has been operating since 2009, originally designated Marenco SwissHelicopter and later rebranded as Kopter Group AG in 2018. The brand-new SH09 single engine helicopter programme has been launched to bring new capabilities and modern design to the civil market with a most cost/effective and versatile platform. The SH09 combines the latest available technologies and safety features, providing excellent performance at affordable cost for a variety of applications.
Combined with excellent engineering skills and agility and an modular architecture suitable for future developments towards more disruptive technologies, mission capabilities and performance including hybrid/electric options, the acquisition of Kopter will allow Leonardo to take further important steps towards an even greater range of offer and market footprint.
Leonardo acquires Kopter
One major news from here in Anaheim is that Leonardo has acquired Kopter .formerly Marenco Swiss helicopter ...
https://www.nasdaq.com/articles/ital...ion-2020-01-28
cheers
https://www.nasdaq.com/articles/ital...ion-2020-01-28
cheers
This article by Vertical also contains some interesting additional information about the SH09 and the current development goals in comments from Kopter's CEO https://www.verticalmag.com/news/leo...ckbuster-move/
Seems a great fit, were there any rumours ahead of this announcement? If not I wonder if any other major manufacturers are thinking “oh dear” didn’t see that coming!
Join Date: Sep 2003
Location: Germany
Age: 53
Posts: 668
Likes: 0
Received 0 Likes
on
0 Posts
I just hope that Kopter will remain a stand alone department within the Leonardo group, so that the engineers can finish what they started and build a nice product.
For Spunk:
I took a peek for some info on the company and the orders, nothing in depth.
During the 2018 Heli-Expo, Kopter announced 23 firm orders and 11 options worth $119 million
from Norwegian Helitrans (12+6),
Elling Halvorson for Rainier Heli Lift, Hawaiian Paradise Helicopters and
South African Safomar Aviation.
Do you know if there are more orders than that?
I also note that the there were 320 people employed. (Hoping not too many positions gone with the merge buy, but we know how things like that often go ...)
From where I sit, that's a nice looking helicopter. Hope it is a success.
I took a peek for some info on the company and the orders, nothing in depth.
During the 2018 Heli-Expo, Kopter announced 23 firm orders and 11 options worth $119 million
from Norwegian Helitrans (12+6),
Elling Halvorson for Rainier Heli Lift, Hawaiian Paradise Helicopters and
South African Safomar Aviation.
Do you know if there are more orders than that?
I also note that the there were 320 people employed. (Hoping not too many positions gone with the merge buy, but we know how things like that often go ...)
From where I sit, that's a nice looking helicopter. Hope it is a success.
Most of the questions were asked by the press pack and most were guardedly answered.
The day before the announcement there was a warning that something was in the offing. Based on what appeared 'obvious' I reckon most were inclined to believe that the tail design suggested that this was an Airbus out of factory project and that the announcement was that some funding was coming in from that direction ..... WRONG. And we should have paid due regard to the very evident new face on the dias.... the engineer from Italy.
So it came to pass that Leonardo have clearly got their hands on the next AS350 replacement. A plus point is that it will also provide a replacement for the A119. A real coup and the top story at the Heli-Expo. Now what they have to do is refrain from interfering. Kopter and Leonardo both claim there is clear water between the two and that will preserve independence at Kopter.
Unfortunately it will only take a change in management at Leonardo to wreck that. The 100% take-over is just that and can result in a reversal of 'clear water' very quickly.
Time will prove whether this all works out.
The day before the announcement there was a warning that something was in the offing. Based on what appeared 'obvious' I reckon most were inclined to believe that the tail design suggested that this was an Airbus out of factory project and that the announcement was that some funding was coming in from that direction ..... WRONG. And we should have paid due regard to the very evident new face on the dias.... the engineer from Italy.
So it came to pass that Leonardo have clearly got their hands on the next AS350 replacement. A plus point is that it will also provide a replacement for the A119. A real coup and the top story at the Heli-Expo. Now what they have to do is refrain from interfering. Kopter and Leonardo both claim there is clear water between the two and that will preserve independence at Kopter.
Unfortunately it will only take a change in management at Leonardo to wreck that. The 100% take-over is just that and can result in a reversal of 'clear water' very quickly.
Time will prove whether this all works out.
Allow me to compare with another turbine single in package buy out of PZL Swidnik SW4 or AW009
After 10 years the sale numbers are almost non existent.
Really strange for light machine with $1.2 M price tag, produced and certified before R66 and B505.
After 10 years the sale numbers are almost non existent.
Really strange for light machine with $1.2 M price tag, produced and certified before R66 and B505.
I'm not quite sure where the comparison lies? The AW009 (must admit I hadn't heard of it) isn't in the same class as the SH09... and let's be honest; it's not Swiss either....
Comparison goes on buy off of ready project flying and EASA certified SW4 helicopter,
included in 4000 man power factory which produced waste majority of Mi2 for "Eastern bloc"
and made own development of W3A which was not winner on East side because of political-economic reason. Even before that most of produced AW139 airframes was sourced in Swidnik and W3A was about to be upgraded to SW5 project... in outline what remind to EC175 today....
BTW Regarding SH09, what is left of "Swiss" after Mr. Stuckl is pushed out? Even the same original No3 is still flying, with some dampers here and there...
included in 4000 man power factory which produced waste majority of Mi2 for "Eastern bloc"
and made own development of W3A which was not winner on East side because of political-economic reason. Even before that most of produced AW139 airframes was sourced in Swidnik and W3A was about to be upgraded to SW5 project... in outline what remind to EC175 today....
BTW Regarding SH09, what is left of "Swiss" after Mr. Stuckl is pushed out? Even the same original No3 is still flying, with some dampers here and there...
There is no real comparison with types.
The SH-09 is a modern single that might reasonably be comparable in market to a modern version of the AS350/H125. lf the mutterings of the late owners are anything to go by, later it might add more features that might be comparable to the AS355 twin......
The AS350 is a very successful but dated design that hides behind 'grandfather rights' whilst offering worse flight safety features than the Bell 206. The 206 and OH-6A designs 'accidentally' got flight safety right at a time when such things were unheard of. In the end the AS350 was a great deal more flexible. As we know the type was upgraded with more safety features - the stroking seats - that effectively allowed the occupants to survive an accident only to perish in the resultant fire. A matter now being resolved with better fuel tanks. The fact remains it is a 1970s design and not what you might class as a 'crashworthy' design.
The PZL Swidnik SW4 is not readily comparable with either type in terms of available space or capability. It does however have history in that it is a 1960s design and, although I am no expert on the type, may well have all or many of the safety flaws that have emerged in the AS350/AS355/AW109/AW119/BK117 and a host of other designs of the same era.
The SH-09 is a fresh design and has therefore to meet the stringent requirements of JAR/FAR 27. They tend to include measures that save lives, if nothing else.
The SH-09 is a modern single that might reasonably be comparable in market to a modern version of the AS350/H125. lf the mutterings of the late owners are anything to go by, later it might add more features that might be comparable to the AS355 twin......
The AS350 is a very successful but dated design that hides behind 'grandfather rights' whilst offering worse flight safety features than the Bell 206. The 206 and OH-6A designs 'accidentally' got flight safety right at a time when such things were unheard of. In the end the AS350 was a great deal more flexible. As we know the type was upgraded with more safety features - the stroking seats - that effectively allowed the occupants to survive an accident only to perish in the resultant fire. A matter now being resolved with better fuel tanks. The fact remains it is a 1970s design and not what you might class as a 'crashworthy' design.
The PZL Swidnik SW4 is not readily comparable with either type in terms of available space or capability. It does however have history in that it is a 1960s design and, although I am no expert on the type, may well have all or many of the safety flaws that have emerged in the AS350/AS355/AW109/AW119/BK117 and a host of other designs of the same era.
The SH-09 is a fresh design and has therefore to meet the stringent requirements of JAR/FAR 27. They tend to include measures that save lives, if nothing else.
Funny how just a few days ago, only a few people on this forum believed in the SH09 despite the progress of the project. 
By the way, there is already a topic on this helicopter, a moderator could merge.
Lonewolf_50 : "Do you know if there are more orders than that?"
Hello Lonewolf, there are some other futur "small" operators like Metro Aviation or Papillon Grand Canyon Helicopter !
By the way, there is already a topic on this helicopter, a moderator could merge.
Lonewolf_50 : "Do you know if there are more orders than that?"
Hello Lonewolf, there are some other futur "small" operators like Metro Aviation or Papillon Grand Canyon Helicopter !
Thanks, HeliHenri. 
My information was a bit dated, so it's nice to see that others were interested.
My information was a bit dated, so it's nice to see that others were interested.